Exchange rate makes European property a good investment, says expert

The ongoing crisis in the eurozone continues to dominate headlines as governments battle to find a balance between enforcing austerity and stimulating growth, yet the current conditions in Europe could be good news for Brits looking to invest abroad.

Earlier this week the euro hit a three-and-a-half year low against the pound as sterling continued to perform better than the single currency, and one property journalist believes that now is a perfect time to buy assets on the continent.

Marc Da-Silva, founder of PropertyJournalist.com, said: "For those who are in a position to invest in a property within the eurozone or buy a second home within the eurozone, now is looking like an increasingly good time to buy."

As buying in Europe becomes a cheaper prospect due to the improving exchange rate, Brits will want to make sure that they have second home insurance policies in place to cover their new properties and avoid unexpected costs.

And with the popular perception being that the euro will get worse before it gets better, buying a property in the eurozone could become an even more enticing prospect in the coming months.

"I project that the pound will potentially hit 1.26 or 1.27 [against the euro] in the short-term, which will make buying property within the eurozone even more attractive," Mr Da-Silva added.

Brits that aspire to own a holiday home may have thought that their chances were particularly slim in months gone by, but with conditions now seeming to favour such a move many may be tempted to take a serious look at the European market.

With a wide range of factors to consider when investing abroad it is important that people find a property best suited to their needs, and taking measures such as buying in a popular location always offers the potential to benefit from letting to holidaymakers in the future.